What are today's mortgage interest rates: May 14, 2026?
Want to buy a home or refinance your current one? Here are the mortgage interest rates you'll need to know first.
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With the next Federal Reserve meeting not scheduled until June 16, homebuyers and owners looking to refinance may understandably be under the impression that today's mortgage rates aren't likely to change anytime soon. That would be a mistake worth avoiding, though. In fact, not only are mortgage interest rates likely to change before then, but they're equally as likely to increase after consecutive inflation reports this week showed figures increasing, not declining. That can lead to an increase in mortgage interest rates as lenders respond to these changes, even with a paused Federal funds rate.
That noted, mortgage interest rates are still markedly improved from where they were in recent years, especially after they surged past the 7% mark in 2023 . Mortgage rates improved by about a full percentage point in 2025 and, right now, they're still lower than they were at similar points last spring and in 2024. With multiple ways to secure a below-average rate, borrowers may still find that today's rates fit their budget and help them meet their goals, even if they're not ideal. To better understand the value of a purchase or refinance now, it helps to know where mortgage interest rates stand exactly as of May 14, 2026.
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What are today's mortgage interest rates?
The average mortgage interest rate on a 30-year term is 6.37% as of May 14, 2026, according to Zillow . The average rate for a 15-year term is 5.87%. While these are averages following this week's latest inflation news, borrowers shouldn't assume that they will remain at this level long-term. Mortgage rates are driven by a variety of factors , which is why they change daily.